Chinese Yuan surpasses Euro in global settlements, ranks second

In a significant milestone, the Chinese yuan has officially surpassed the European euro, securing its position as the second-most-used currency in the world for international settlements, according to SWIFT data. 

The yuan’s share of international settlements reached 5.8% by the end of September, surpassing the euro by 5.43%. 

This development marks the first time the yuan has risen to the second position in the global currency hierarchy, signalling China’s growing influence in the international financial landscape. — albawaba.com